In processing currency or other notes, some organizations use automated processing devices for counting and sorting such notes. Certain devices may include counterfeit testing capabilities. These devices generally use ultraviolet, magnetic and infrared detection to find suspicious or fake bills.
In document processing, optical character recognition (“OCR”) and optical mark recognition (“OMR”) are sometimes used to identify portions of documents. OCR is generally the mechanical or electronic translation of images of handwritten or typewritten text (usually captured by a scanner) into machine-editable text. OMR is generally the capturing of data by contrasting reflectivity at predetermined positions on a page.
A company processing the currency, or a state or federal regulatory agency, however, may have a need or desire for information relating to the processed currency. Currently, the processing of currency or other notes by merely using ultraviolet, magnetic and infra-red detection does not allow for tracking of information regarding specific bills. Furthermore, current currency counters do not provide a system or method for storing and potentially tracking the currency processed. OCR and OMR could be used to further identify information relating to processed currency or notes.
Certain cash-handling businesses are required to report large currency transactions to state and federal regulatory agencies. Large currency transactions are generally considered to be those exceeding a threshold set between $3,000 and $10,000. These transactions are studied carefully to prevent undesirable transactions by criminals and their organizations through currency exchanges with legitimate businesses. Casino operators have unique high-volume cash handling operations and are particularly susceptible to individuals who engage in such undesirable transactions.
Therefore, there exists a need in the art for enhanced techniques and systems to address the aforementioned circumstances.